Wow. An incredible buying opportunity or the beginning of a steep correction?
Whatever the case, gold and silver prices are crashing after being overbought in recent weeks.
At the time of this writing, gold is trading down more than 4.25 percent to $1,953 an ounce. Silver has cratered more than 8.3 percent to $26.81 per ounce.
It is amazing what is happening during this incredible bull run.
You saw some weakness on Friday, but prices regained their momentum on Monday only for Tuesday to see a monumental crash.
This is likely a blip in the radar as the Federal Reserve is printing vast sums of money and the Congress is approving multi-trillion-dollar spending packages. And it doesn’t matter if President Donald Trump wins re-election or Joe Biden wins in November – both men will contribute to inflation with their spending campaigns.
To quote the great Robert Wenzel, hang on to your gold coins!
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